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Aug 26, 2012
08/12
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it's the fiscal cliff. we're talking about the effects of $1 trillion in automatic across the board spending cuts mandated by congress known as sequester. that combined with a series of tax increases including an end to the bush era tax cuts and a higher payroll tax. measures scheduled to start on january 2nd unless congress acts. don't hold your breath, folks. if you recall, the sequester legislation was passed a year ago to end a bitter debate then over extending the government's debt ceiling. intense partisan blackmail by both sides nearly shut down the government and led to a downgrade of the united states credit rating. now the enormous amount of spending cuts and tax increases, if they stand, will shrink your economy at a time when you expect your political leaders to do everything they can to stave off another recession. and a new report from the cbo says unemployment will rise, will rise to 9% in the second half of 2013. but what happens if lawmakers act and avoid taking us over a fiscal cliff? the
it's the fiscal cliff. we're talking about the effects of $1 trillion in automatic across the board spending cuts mandated by congress known as sequester. that combined with a series of tax increases including an end to the bush era tax cuts and a higher payroll tax. measures scheduled to start on january 2nd unless congress acts. don't hold your breath, folks. if you recall, the sequester legislation was passed a year ago to end a bitter debate then over extending the government's debt...
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i'm talking about the fiscal cliff. that's more than $600 billion of budget cuts and tax hikes for next year mandated to start taking effect as early as january 1st. now, what can happen, you ask? let's bring in christine romans. she's the host of "your bottom line" to answer that very question. christine? >> ail, i cannot confirm or deny that you're full of hot air, but i can tell you tax hikes will affect us all if nothing is done to avert this fiscal cliff. here's what we're looking@t at the beginning of the year. taxpayers will pay $3,000 more in taxes if they don't do anything. a new report from the center of regional analysis at george mason university predicts that some 277,000 federal employees will lose their jobs in the next 12 months. that's 14% of the federal work force. and 14 of the 17 economists surveyed by cnn money, ali, they predict the fiscal cliff will cause a new recession. interestingly, all 17 believe the economy won't plunge off the cliff because they think congress will finally get its act toget
i'm talking about the fiscal cliff. that's more than $600 billion of budget cuts and tax hikes for next year mandated to start taking effect as early as january 1st. now, what can happen, you ask? let's bring in christine romans. she's the host of "your bottom line" to answer that very question. christine? >> ail, i cannot confirm or deny that you're full of hot air, but i can tell you tax hikes will affect us all if nothing is done to avert this fiscal cliff. here's what we're...
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Oct 6, 2012
10/12
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i'm talking about the fiscal cliff. more than $600 billion worth of budget cuts and tax hikes for next year mandated to start taking effect as early as january 1st. what can happen you can. let's bring in christine romans. she's the host of your bottom line to answer that very question. >> i cannot confirm or deny you're full of hot air but i can tell you tax hikes will affect us all if nothing is done avert this fiscal cliff. here's what we're looking at. tax policy center forecasts erican households will pay on average $3,500 more in tax physician congress let the bush era tax cuts expire for everyone. what effect could that and across the board spending cuts have on the wider economy? a new report from the center for regional analysis at george mason university predicts that some 277,000 federal employees will lose their jobs in the next 12 months. that's 14% of the federal workforce. and 14 of the 17 economists surveyed by cnn money predict fiscal cliff will cause a new recession. interestingly all 17 believe the ec
i'm talking about the fiscal cliff. more than $600 billion worth of budget cuts and tax hikes for next year mandated to start taking effect as early as january 1st. what can happen you can. let's bring in christine romans. she's the host of your bottom line to answer that very question. >> i cannot confirm or deny you're full of hot air but i can tell you tax hikes will affect us all if nothing is done avert this fiscal cliff. here's what we're looking at. tax policy center forecasts...
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Nov 3, 2012
11/12
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we'll talk more about the fiscal cliff and why the politicians aren't talking about it the way we are. we'll talk to smart people about it. "your money" live from ohio. from investing for the first time... to investing with knowledge. the potential of td ameritrade unlocked. nyse euronext. unlocking the world's potential. to a world of super-connected intelligence. the potential of freescale unlocked. nyse euronext. unlocking the world's potential. ♪ ♪ ♪ it's got something for everyone ♪ ♪ the car of the future many have said ♪ ♪ 'cause at the pump it's miles ahead ♪ ♪ let's hum, hum, hum, hum ♪ let's hum ♪ a prius for everyone ♪ the perfect match, electric and gas ♪ ♪ mile after mile its tank could last ♪ ♪ we made three more for all to use ♪ ♪ big, small, and plug in, it's yours to choose ♪ ♪ and let's hum, hum, hum, hum, let's hum ♪ ♪ a prius for everyone >>> norm ornstein is a resident scholar at the american enterprise institute and the co-altogethco co-author of the book "even worse than it looks." i introduced you and then i couldn't
we'll talk more about the fiscal cliff and why the politicians aren't talking about it the way we are. we'll talk to smart people about it. "your money" live from ohio. from investing for the first time... to investing with knowledge. the potential of td ameritrade unlocked. nyse euronext. unlocking the world's potential. to a world of super-connected intelligence. the potential of freescale unlocked. nyse euronext. unlocking the world's potential. ♪ ♪ ♪ it's got something for...
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Oct 27, 2012
10/12
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CNNW
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the candidates are not talking about the fiscal cliff. no matter who wins there will have to be some resolution with congress. what's your sense of how this plays out? >> of course, remember that barack obama did in the debates say there will not be a sequester, which caused a little scrambling on had his campaign's part. but the fact is, there hasn't been much discussion of this, but as soon as the election is over, we shift into full governing mode with the reality if they do not reach a deal, president and congress, before the end of the year, all the bush tax cuts expire, all the extenders expire. the payroll tax cut expires and we get these across-the-board cuts and then looming a debt ceiling vote. the odds of something happening, though, in november, december are slim. >> well, we've seen ceos recently start putting the pressure on congress and the president to reach a deal. it's been a bit of a shift here, norm, because for a long time people were saying it wasn't going to happen. now this involvement from the business community,
the candidates are not talking about the fiscal cliff. no matter who wins there will have to be some resolution with congress. what's your sense of how this plays out? >> of course, remember that barack obama did in the debates say there will not be a sequester, which caused a little scrambling on had his campaign's part. but the fact is, there hasn't been much discussion of this, but as soon as the election is over, we shift into full governing mode with the reality if they do not reach...
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Sep 29, 2012
09/12
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CNN
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we just talked about the threat of the fiscal cliff, the u.s. centered storm, but we cannot ignore the head winds coming from europe. joining me now to debate this topic is richard quest in london, host of "quest means business" on cnn international. richard, today's q and a question is, will europe derail a u.s. recovery? i'll go first this time. give me 60 seconds on the clock starting right now. richard, the answer is categorically, absolutely yes. the storm hanging over europe just won't go away and each day that it stays there is another day that europeans who have been among the biggest and best consumers of u.s. produced goods and services are buying fewer and fewer of them. despite two years of bad governance and poor economic decision making in europe, americans are somehow weirdly feeling better about their own economy. richard, evidenced by this week's consumer spending and housing numbers, but cheap money and low home prices are driving the american sugar high. in the end, the austerity measures in europe are crushing. it's already p
we just talked about the threat of the fiscal cliff, the u.s. centered storm, but we cannot ignore the head winds coming from europe. joining me now to debate this topic is richard quest in london, host of "quest means business" on cnn international. richard, today's q and a question is, will europe derail a u.s. recovery? i'll go first this time. give me 60 seconds on the clock starting right now. richard, the answer is categorically, absolutely yes. the storm hanging over europe...
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Dec 8, 2012
12/12
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CNNW
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i have been warning you about the fiscal cliff for months. i call it the economic storm of our own making. some of you think the talk is overblown. will a failure by washington to avert the fiscal cliff mean catastrophe for the u.s. economy? i'll debate with richard quest next. zza!!!!! [ garth ] olaf's small business earns 2% cash back on every purchase, every day! helium delivery. put it on my spark card! [ pop! ] [ garth ] why settle for less? great businesses deserve the most rewards! awesome!!! [ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet? (announcer) when subaru owners on elook in the mirror,y day! they see more than themselves. so we celebrate our year-end with the "share the love" event. get a great deal on a new subaru and 250 dollars goes to your choice of five charities. by the end of this, our fifth year, our total can reach almost 25 million dollars. it's a nice reflection on us all. now through january 2
i have been warning you about the fiscal cliff for months. i call it the economic storm of our own making. some of you think the talk is overblown. will a failure by washington to avert the fiscal cliff mean catastrophe for the u.s. economy? i'll debate with richard quest next. zza!!!!! [ garth ] olaf's small business earns 2% cash back on every purchase, every day! helium delivery. put it on my spark card! [ pop! ] [ garth ] why settle for less? great businesses deserve the most rewards!...
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Dec 23, 2012
12/12
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. >>> just days to go before america goes over a fiscal cliff. an outcomeloing more likely every hour. washington's willingness to take america to the brink threatens its prosperity. this is about the latest movement in the negotiation between the democrats and republicans comes down to useless symbolic moves and haggling between grown men. your elected officials are wasting time while the clock ticks. house speaker john boehner announced his plan b to let bush-era tax cuts expire for earners making more than $1 million a year and he wants to set automatic spending cuts with unspecified cuts elsewhere. the speaker pulled his so-called plan b for lack of support from his own party because many republicans still beholden to grover nor quest and the ridiculous pledge want no compromise at all. the debate between the two sides centers around a balanced approach the budget. republicans say president obama wants too much revenue. that's taxes in normal speak and not enough cuts. >> at some point we're going to have to address the spending problem that
. >>> just days to go before america goes over a fiscal cliff. an outcomeloing more likely every hour. washington's willingness to take america to the brink threatens its prosperity. this is about the latest movement in the negotiation between the democrats and republicans comes down to useless symbolic moves and haggling between grown men. your elected officials are wasting time while the clock ticks. house speaker john boehner announced his plan b to let bush-era tax cuts expire for...
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Nov 6, 2012
11/12
by
CNBC
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people we are talking to here say what brought them to the polls here is the economy, the fiscal cliff, regulation one voter told me b. the voters told me they haven't seen long lines here before. voter turnout is higher than in 2008. a lot of folks saying they will brave the cold temperatures because they want their vote to count. >> the polls are going to be staying open later if you are in line at 7:00. we can guess it will be a longer night before anybody can call any of these things. >> reporter: it could be. if you see these lines. this line is moving relatively quickly. we have been told further south there are longer lines. it could take possibly another hour after 7:00 to get people out of line. you will get to vote. they cut off the line at 7:00. >> thank you very much. >>> so here is how we as part of the nbc network will keep you updated on the tally. sullivan is at democracy plaza with the map. are you wearing ice skates? >> i might put some on later because here is what we have talked about. every time the state is called i will don a red or blue cape and do five laps aro
people we are talking to here say what brought them to the polls here is the economy, the fiscal cliff, regulation one voter told me b. the voters told me they haven't seen long lines here before. voter turnout is higher than in 2008. a lot of folks saying they will brave the cold temperatures because they want their vote to count. >> the polls are going to be staying open later if you are in line at 7:00. we can guess it will be a longer night before anybody can call any of these things....
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Oct 23, 2012
10/12
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CNBC
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i think people are so fed up with the fact that we can't fix the fiscal cliff, we can't get anything done in washington, d.c., military budgets, taxes, anything going bankrupt for christ's sakes, which most people think we are going bankrupt. so i think romney got that in. sara, i just don't know if it was too late and powerful enough. i think that's an independent thing. was it too late? was it powerful enough? to really get heard. >> i don't think there were many people who had tuned in, particularly in the last half hour of this debate. >> why? because it was foreign policy? >> they spent 57 minutes on the middle east and ten minutes on china. >> listen -- >> here is a good example of the two candidates talking about in this case al qaeda as the president turns it to russia. take a listen. >> i'm glad that you recognize that al qaeda is a threat, because a few months ago when you were asked what is the biggest geopolitical threat facing america, you said russia, not al qaeda, you said russia. in the 1980s or now, calling to ask for their foreign policy bank, because the cold war h
i think people are so fed up with the fact that we can't fix the fiscal cliff, we can't get anything done in washington, d.c., military budgets, taxes, anything going bankrupt for christ's sakes, which most people think we are going bankrupt. so i think romney got that in. sara, i just don't know if it was too late and powerful enough. i think that's an independent thing. was it too late? was it powerful enough? to really get heard. >> i don't think there were many people who had tuned...